Networking service for doctors gets cash injection from Innovacorp

A Nova Scotia-based service for doctors across the country has hit the $1-million mark with an investment from Innovacorp.

The Rounds, a professional network that helps doctors connect and collaborate in a secure manner, received a $250,000 investment from the provincial Crown corporation.

“This investment gives us additional resources to grow quickly and strategically, innovate effectively, and deliver on our vision to improve health care for all Canadians,” Blair Ryan, CEO of The Rounds, said in a news release Tuesday.

The company estimates that poor communication between health-care providers can account for about 80 per cent of serious preventable adverse patient events. But with The Rounds’ secure network, doctors can connect quickly, even across specialities, via mobile phone or computer.

This free service is in compliance with the federal Personal Information Protection and Electronic Documents Act and the U.S. Health Insurance Portability and Accountability Act, the company said.

About 1,500 physicians from every province now use The Rounds and members connect more than 20,000 each month, the company said in the release.

“As demonstrated by their recent growth and physician adoption, The Rounds clearly understands the market and is delivering a product that benefits all Canadians,” Dawn Umlah, investment manager with Innovacorp, said in the release.

“This investment will help The Rounds connect with more Canadian physicians and accelerate their growth as it relates to product innovation and user acquisition.”